tax anticipation bills (TABs)

简明释义

先期交税债券［美国］

英英释义

例句

1.Investors often buy tax anticipation bills (TABs) because they are considered low-risk investments.

投资者通常购买税收预期票据（TABs），因为它们被视为低风险投资。

2.The city issued tax anticipation bills (TABs) to cover its immediate cash flow needs until the tax revenue comes in.

该市发行了税收预期票据（TABs）以满足其立即的现金流需求，直到税收收入到账。

3.The school district relied on tax anticipation bills (TABs) to fund operations during the summer months.

学区依靠税收预期票据（TABs）在夏季资助运营。

4.By issuing tax anticipation bills (TABs), the county was able to manage its budget more effectively.

通过发行税收预期票据（TABs），该县能够更有效地管理其预算。

5.Before issuing tax anticipation bills (TABs), the municipality conducted a thorough financial analysis.

在发行税收预期票据（TABs）之前，市政府进行了全面的财务分析。

作文

Tax anticipation bills (TABs) are financial instruments that local governments often use to manage their cash flow in anticipation of future tax revenues. These short-term debt securities allow municipalities to raise funds quickly, ensuring they can meet their immediate financial obligations while waiting for tax collections to come in. When a government anticipates receiving a certain amount of tax revenue, it may issue TABs to bridge the gap between expenditures and incoming funds. This practice is particularly common in jurisdictions where tax collection may be delayed or where there are significant upfront costs associated with public services.The concept of tax anticipation bills (TABs) is essential for understanding municipal finance. Governments operate on a fiscal calendar that does not always align with the timing of revenue inflows. For instance, property taxes might be collected annually or semi-annually, but expenses such as payroll, supplies, and infrastructure projects occur continuously throughout the year. Without a mechanism like tax anticipation bills (TABs), municipalities could face cash shortages, which might lead to delayed services or even defaults on obligations.Moreover, tax anticipation bills (TABs) serve as a tool for managing liquidity. When a city anticipates a substantial influx of tax revenue, issuing TABs allows it to access necessary funds immediately. Investors are often attracted to these bills because they typically offer a relatively low-risk investment with a predictable return, as they are backed by the expected tax revenues of the issuing municipality. The interest rates on TABs are usually lower than those on other types of bonds, reflecting their short-term nature and the security provided by future tax receipts.In recent years, the use of tax anticipation bills (TABs) has gained attention due to economic fluctuations and budgetary constraints faced by many local governments. During economic downturns, tax revenues may decline, leading to increased reliance on TABs to maintain operations. This reliance can create a cycle where governments must continue to issue new TABs to pay off older ones, which can lead to concerns about long-term fiscal sustainability.Critics argue that over-reliance on tax anticipation bills (TABs) may mask underlying financial issues within a municipality. If a government frequently resorts to issuing these bills, it may indicate that it is struggling to balance its budget effectively. Therefore, while TABs can provide a temporary solution to cash flow problems, they should not be viewed as a substitute for sound financial management practices.In conclusion, tax anticipation bills (TABs) represent an important financial tool for local governments, allowing them to manage cash flow and meet immediate financial needs. However, it is crucial for municipalities to use this tool judiciously and ensure that they are also addressing the root causes of any cash flow issues. By doing so, they can maintain financial stability and continue to provide essential services to their communities. Understanding the role and implications of tax anticipation bills (TABs) is vital for anyone interested in municipal finance and the broader economic health of local governments.

税收预期票据（TABs）是地方政府常用的一种金融工具，用于在预期未来税收收入时管理现金流。这些短期债务证券允许市政当局快速筹集资金，以确保他们能够满足即时财务义务，同时等待税收的到来。当政府预计将收到一定金额的税收时，它可能会发行TABs，以填补支出与即将到来的资金之间的差距。这种做法在税收征收可能延迟或与公共服务相关的前期费用较大之处尤为常见。理解税收预期票据（TABs）的概念对于了解市政财政至关重要。政府的财政日历并不总是与收入流入的时间一致。例如，财产税可能每年或每半年征收，但工资、供应和基础设施项目等费用则会在全年持续发生。如果没有像税收预期票据（TABs）这样的机制，市政当局可能会面临现金短缺，这可能导致服务延迟甚至违约。此外，税收预期票据（TABs）作为管理流动性的工具。当一个城市预计将有大量税收收入流入时，发行TABs使其能够立即获得所需资金。投资者通常对这些票据感兴趣，因为它们通常提供相对低风险的投资，并且有可预测的回报，因为它们由发行市政当局的未来税收支持。TABs的利率通常低于其他类型债券，反映了其短期性质和未来税收所提供的安全性。近年来，随着许多地方政府面临的经济波动和预算限制，税收预期票据（TABs）的使用引起了人们的关注。在经济低迷时期，税收收入可能下降，导致对TABs的依赖增加，以维持运营。这种依赖可能会造成一个循环，政府必须继续发行新的TABs以偿还旧的，这可能引发对长期财政可持续性的担忧。批评者认为，过度依赖税收预期票据（TABs）可能掩盖市政当局内部的潜在财务问题。如果一个政府频繁依赖于发行这些票据，这可能表明它在有效平衡预算方面存在困难。因此，尽管TABs可以为现金流问题提供临时解决方案，但不应被视为健全财务管理实践的替代品。总之，税收预期票据（TABs）代表了地方政府的重要金融工具，允许他们管理现金流并满足即时财务需求。然而，各市政当局必须明智地使用这一工具，确保他们也在解决任何现金流问题的根本原因。通过这样做，他们可以保持财务稳定，并继续为社区提供必要的服务。理解税收预期票据（TABs）的作用和影响，对于任何对市政财政和地方政府更广泛经济健康感兴趣的人来说都是至关重要的。